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Concept Self-check

14 August, 2015 - 17:32
  1. What is the difference between a current and non-current liability?
  2. What are some examples of current liabilities?
  3. How are known current liabilities different from estimated current liabilities?
  4. What are some examples of estimated current liabilities?
  5. How is an estimated current liability different from a contingent liability?
  6. How is a loan payable similar to a bond? How is it different?
  7. How is a finance lease similar to a long-term loan from a bank? How is it different?